Main Street Financial Solutions LLC Acquires 7,472 Shares of Caterpillar Inc. (NYSE:CAT)

Main Street Financial Solutions LLC grew its position in Caterpillar Inc. (NYSE:CAT) by 877.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,324 shares of the industrial products company’s stock after acquiring an additional 7,472 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Caterpillar were worth $3,256,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Bbjs Financial Advisors LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Financial Connections Group Inc. bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the 3rd quarter worth approximately $36,000. Fairscale Capital LLC bought a new position in shares of Caterpillar during the 2nd quarter worth approximately $36,000. Finally, POM Investment Strategies LLC increased its holdings in Caterpillar by 2,160.0% during the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT traded down $4.47 during mid-day trading on Wednesday, reaching $388.54. The company had a trading volume of 671,397 shares, compared to its average volume of 2,615,462. The company’s 50-day moving average price is $378.67 and its 200-day moving average price is $353.36. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a one year low of $241.81 and a one year high of $418.50. The firm has a market cap of $187.59 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.96 and a beta of 1.10.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The business had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.52 EPS. As a group, equities research analysts anticipate that Caterpillar Inc. will post 21.69 EPS for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.45%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Cheryl H. Johnson sold 2,975 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total value of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares in the company, valued at approximately $5,347,825.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Daniel M. Dickinson sold 1,300 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $418.00, for a total value of $543,400.00. Following the completion of the sale, the director now directly owns 4,976 shares in the company, valued at $2,079,968. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cheryl H. Johnson sold 2,975 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the completion of the sale, the insider now owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,749 shares of company stock valued at $9,251,912. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CAT shares. Truist Financial raised their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup lowered their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and lifted their target price for the company from $321.00 to $365.00 in a research note on Wednesday. StockNews.com cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Barclays lifted their target price on Caterpillar from $315.00 to $335.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $365.33.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.